The Financial Stability Oversight Council has issued a final determination that MetLife Inc. is a systemically important financial institution, which will force the insurer to meet higher prudential standards and subject it to Federal Reserve oversight, the company said Thursday.
A Minnesota federal judge on Thursday left largely intact a consolidated consumer class action filed against Target Corp. over its infamous 2013 holiday data breach, dismissing a few state and other claims but allowing the plaintiffs to continue with the majority of the suit.
Royal Bank of Canada has struck a $35 million deal with the Commodity Futures Trading Commission to settle charges that its extensive “wash trading” on a Chicago futures exchange — an effort to reap tax breaks — was noncompetitive and illegal.
The bankruptcy trustee for failed law firm Howrey LLP has reached deals to claw back money from seven former partners of the firm who founded Belgian IP boutique Hoyng Monegier LLP.
Steptoe & Johnson LLP and a one-time partner of the firm were hit with a $129 million legal malpractice suit Tuesday in California state court, in which they are accused of failing to properly advocate for developers in a fight to secure big claims against a bankrupt mutual fund executive.
Apax Partners LP said on Thursday that it would sell Swiss mobile phone group Orange Communications SA for 2.8 billion Swiss franc ($2.86 billion) — a 40 percent premium to what the U.S. private equity shop paid for the company just three years ago — in a deal shaped by Simpson Thacher & Bartlett LLP.